Downloads
![Image representing the file: comm63.pdf](/sites/default/files/output_url_files/comm63.pdf_0.jpg)
comm63.pdf
PDF | 1.61 MB
The European Commission has proposed a fundamental reform of VAT in member states, aimed at establishing a durable, or ӤefinitiveԬ VAT regime, compatible with the requirements of the increasingly integrated European single market. Contrary to the expectations of many commentators, the proposals for the definitive regime have not simply revived the Commission's 1987 proposals for the post-1992 VAT regime. Instead, there are some striking new proposals ֠including a single VAT ӤomicileԠfor each business engaged in Europe-wide trade. This commentary describes the rationale of the Commission's new proposals, and compares it with the current ӴransitionalԠregime and other available alternatives.
Authors
![Person graphic](/sites/default/files/styles/square_desktop/public/2022-06/IFS-person-graphic.png?itok=hWCtTSrz)
Stephen Smith
Report details
- DOI
- 10.1920/co.ifs.1997.0063
- ISBN
- 978-1-873357-71-2
- Publisher
- IFS
Suggested citation
Smith, S. (1997). The definitive regime for VAT. London: IFS. Available at: https://ifs.org.uk/publications/definitive-regime-vat (accessed: 30 June 2024).
More from IFS
Understand this issue
![Jeremy Hunt](/sites/default/files/styles/square_desktop/public/2023-03/Jeremy-Hunt-F.jpg?itok=1YjT3_wn)
The Spring Budget explained
16 March 2023
![Image of the HM Treasury building](/sites/default/files/styles/square_desktop/public/2022-07/Treasury-building-featured.jpg?itok=spP7YoMZ)
Taxes could be cut within broader reforms
2 November 2023
![Number 10 Downing Street](/sites/default/files/styles/square_desktop/public/2023-03/number-10-Downing-Street-sign.jpg?itok=ih4CmLNU)
At last, we are back to a normal budget, but don’t expect many treats
13 March 2023
Policy analysis
![UK bank notes](/sites/default/files/styles/square_desktop/public/2023-08/UK-bank-notes_0.jpg?itok=AJxlVLQE)
Tax and public finances: the fundamentals
23 August 2023
![City](/sites/default/files/styles/square_desktop/public/2023-10/Image-of-city-2.jpg?itok=7EGTk9pG)
Full expensing and the corporation tax base
6 October 2023
![City](/sites/default/files/styles/square_desktop/public/2023-10/Image-of-city-2.jpg?itok=7EGTk9pG)
Long-term costs of full expensing much lower than official estimates suggest
6 October 2023
Academic research
![Journal cover image](/sites/default/files/styles/portrait/public/2023-04/Fiscal-Studies-Vol-44-1-Mar-2023.jpg?itok=8_tBgjFc)
Fiscal Studies, Volume 44, Issue 1
20 March 2023
![Journal cover image](/sites/default/files/styles/portrait/public/2023-04/Fiscal-Studies-Vol-44-1-Mar-2023.jpg?itok=8_tBgjFc)
Empirical evidence on the global minimum tax: What is a critical mass and how large is the substance-based income exclusion?
20 March 2023
![Working paper cover](/sites/default/files/styles/portrait/public/2023-01/CWP0223-Identifying-network-ties-from-panel-data-theory-and-an-application-to-tax-competition.jpg?itok=3taIDPCs)
Identifying network ties from panel data: theory and an application to tax competition
18 January 2023